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Alternative lenders
Fundraising by closed-ended real estate-focused debt funds had reached more than $23.2 billion by the end of the third quarter of 2016, according to data from PDI Research & Analytics.
ACOFI, the Paris-headquartered fund manager, has secured approximately €420 million in commitments for PREDIREC Immo IV, its fourth CRE debt fund.
IDFC Alternatives, an Indian alternative investment manager, is approaching the second and final close of its IDFC Score Fund within two months, according to a senior executive from the firm.
Maverick Real Estate Partners has announced the private equity manager is raising money for its fourth debt fund, Real Estate Capital has learned. The fund is seeking opportunistic returns on distressed debt.
The Paramount Group has closed its second debt fund, the Paramount Group Real Estate Fund VIII, with $755 million in commitments, primarily from German institutional investors.
MaxCap Group, the Australian commercial real estate (CRE) debt investment manager, has made two new hires after raising A$310 million (£157 million) in 17 deals since the beginning of the year - triple the amount raised in the same period last year.
Omni Partners, the London-based fund manager, has simultaneously announced both the launch and first closing of its third secured lending fund on approximately $60 million.
Non-bank lenders recorded 242 deals in the UK and mainland Europe in the whole of 2015, according to the latest figures from Deloitte’s Alternative Lender Deal Tracker. This represented a 9 percent increase on the 222 deals logged during 2014.
Private real estate debt vehicles raised almost $4.7 billion in the first quarter of this year, according to data from PDI Research & Analytics.
Investment allocations outside the traditional commercial sectors (office, retail, industrial) have been increasing by 25 percent year-on-year on average over the past 15 years, according to a report by real estate advisor Savills. The report also highlights the rise in European residential investment specifically.